Fed signals December rate hike: Refco's Malpede

RachelKoning

CHICAGO (CBS.MW) -- "The Fed did what was expected and my read is it was an optimistic statement that suggests another rate hike in December," said Mike Malpede, currency analyst with Refco in Chicago, in the wake of the Fed's decision to raise its target to 2 percent. The dollar declined in the immediate wake of the Fed's decision but had since firmed against both the euro and the Japanese yen.

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